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GeneralClass 11CBSE

Mention any two tasks carried out by entrepreneurs?

Two tasks are: Innovation & scanning opportunity.

GeneralClass 11CBSE

What is the aim behind carrying out a small business?

Earning livelihood

GeneralClass 11CBSE

What is the alternate word for intrapreneurship?

Corporate Entrepreneurship 1Mark

GeneralClass 11CBSE

“To optimize time, money & resources, an entrepreneur finds new ways.” How will you name this characteristic?

High initiative

GeneralClass 11CBSE

Name any two types of corporate entrepreneurship?

Incubative and Imitative entrepreneurship

GeneralClass 11CBSE

When direct interventions are required for entrepreneurial development?

Direct interventions are required when entrepreneurship is at the initial stage of development. Besides it, there is a thrust on employment generation and poverty reduction.

GeneralClass 11CBSE

State any six main features of entrepreneurship.

The entrepreneurship involves: Sensing opportunities. Innovating products or services. Taking the risk. Perceiving and mobilising resources. Planning and organising production. Marketing the products or services.

GeneralClass 11CBSE

Name any six support services of entrepreneurship development cycle.

The support services are: Obtaining fund Getting land/shed, utilities Acquiring machine and equipments Facilities procuring raw materials Marketing linkages Technology flow and adoption.

GeneralClass 11CBSE

Name the stimulatory activities of entrepreneurship development cycle.

The stimulatory activities are: Training and education in entrepreneurship. Publicizing entrepreneurial opportunities. Making available techno-economic information. Offering incentives and recognition. Creation of forum for entrepreneurs. Easy availability of information.

GeneralClass 11CBSE

Explain the process of development of entrepreneurship.

The entrepreneurship development process involves the development in the following areas: Development of entrepreneurial quality and motivation: A conscious effort is required to develop a minimum degree of entrepreneurial quality and motivation to ensure arousal of a strong desire and drive to perform entrepreneurial functions. Building capacity of sensing and launching venture: To launch the enterprise, the prospective entrepreneurs have to scan the environment, sense

GeneralClass 11CBSE

Explain any two factors that contribute to creation of an environment conducive to entrepreneurship development.

The two factors that contribute to the creation of an environment conducive to entrepreneurship development are: Globalisation: Globalisation means interconnecting different countries of the world. It has caused shrinking of time, space and disappearance of borders. It offers growing global markets for both goods and services. Technology breakthrough: Increasing use of technology creates unlimited entrepreneurial opportunities to meet the global demand of goods and servi

GeneralClass 11CBSE

What are the factors that contribute to the creation of an environment conducive to entrepreneurship development?

The major factors that contribute to the creation of an environment conducive to entrepreneurship development are: Globalisations. Availability and fast flow of fund. Technology breakthrough. Revolution in information technology.

GeneralClass 11CBSE

What do we include in sustaining activities?

The sustaining activities include: Facilities for growth and expansion. Diagnostic and consultancy services. Refinancing facility. Legal and policy modification. Deferred repayment interest.

GeneralClass 11CBSE

How Entrepreneurship Development Programs attained a status of National Movement?

A large number of EDPs were carried out as national, regional, local programmes, by governmental, non-governmental and voluntary organisations for various target groups such as educated youth, woman, technically trained youth, professionals and artisans. This massive effort resulted in the establishment of millions of small, medium and micro enterprises all over the country. That is why by 1980s, EDPs attained the status of a national movement.

GeneralClass 11CBSE

What are the methodologies adopted by ‘Entrepreneurship Development Programs’? (4) Ans: The main methodologies adopted are:

Planned intervention through short and long duration EDP training. Organised support services in terms of providing funds, machinery and equipment, scarce raw materials and necessary infrastructure like land / shed power etc. Marketing networking and management. Technology related information and guidance.

GeneralClass 11CBSE

Why a shop-owner is not called an entrepreneur?

A shop owner cannot be called an entrepreneur if he runs his shop without visualising any growth or development of the shop over a period of time. For him, earning monetary gain is the primary driving force. But an entrepreneur is the person who senses the opportunities, innovate products or services, takes the risk, plans and organises production and decides the future course of the enterprise. That is why a shop-owner is not called an entrepreneur.

GeneralClass 11CBSE

What are the necessary values required to be a successful entrepreneur?

An entrepreneur requires: The values that provide goal-direction. The attitudes that endow on him the basic propensity to act. The motivation that accounts for his driving force. The behavioural and personal competencies that transform into entrepreneurial skills.

GeneralClass 11CBSE

What are the activities included in direct intervention in the initial stage of entrepreneurship? (3) Ans: Direct intervention comprises of the following activities:

Stimulatory support. Sustaining activities through training. Support services on traditional EDP pattern.

GeneralClass 11CBSE

How does entrepreneurship differ from income generation? (3) Ans: The differences between entrepreneurship and income generation are as follows:

| Basis | Entrepreneurship | Income generation | | --- | --- | --- | | Objective | It refers to the activity of innovating products and services, planning and organising production and services and their marketing and deciding future of the enterprise. | It refers to activities which are often taken up on part time and are practiced for the purpose of raising additional income. | | Scope | Scope is very intensive. All entrepreneurs are income generating persons. | Scope is very narrow. All in

GeneralClass 11CBSE

State the differences between entrepreneurship and self-employment? (3) Ans: The differences between entrepreneurship and self-employment are as follows:

| Basis | Entrepreneurship | Self-employment | | --- | --- | --- | | Innovation | Involves the task of sensing opportunities and innovating products and services. | Full time involvement in own occupation in which a person may or may not innovate product and service. | | Scope | All entrepreneurs are self-employed. | All self-employed persons may not necessarily be entrepreneurs. | | Stage | It is the terminal stage of entrepreneurial growth. | It is the middle stage of entrepreneurial growth

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